PRNEWSWIRE
- Offers a long-term policy and unparalleled, highly customisable solutions for evolving healthcare needs
- Now available across all platforms Pan-India with flexible coverage options and family discounts
- Provides immediate coverage for pre-existing conditions like Diabetes and Hypertension
- Star Health aims to double its business in the next 4 years
CHENNAI, India, Dec. 13, 2024 /PRNewswire/ -- Star Health and Allied Insurance Company Limited, the first standalone health insurance company in India, today announced the launch of its revolutionary retail healt
h insurance product, 'SUPER STAR'. This innovative policy offers a long-term policy for the retail health segment, combining advanced features and highly customisable covers to address the growing complexities of modern lifestyles, rising medical expenses, and unforeseen emergencies.
Commenting on the launch, Anand Roy, MD & CEO of Star Health Insurance, said: "The SUPER STAR policy reflects our commitment to crafting innovative solutions that address the dynamic healthcare needs of our customers. By expanding its reach through our extensive agency network, we are bridging digital convenience with personalized options, ensuring unmatched flexibility and freedom of choice. While the product will be available to all customer demographics, it is the millennials that have been looking for greater personalisation. SUPER STAR addresses this growing need amongst our customers by offering limitless options, affordability, family discounts, and long-term benefits, making it ideal for young families. With features like Quick Shield and the long-term tenure, we aim to provide comprehensive and highly customisable coverage for India's evolving healthcare needs."
SUPER STAR is now available through Star Health's agency network, broadening its accessibility across customer demographics and geographies.
Key Features of the SUPER STAR Plan:
- Quick Shield: Enjoy immediate coverage starting as early as the 31st day, even for pre-existing conditions such as Diabetes, Hypertension, Asthma, and specific heart-related diseases
- Freeze Your Age: Lock in your age at the time of enrolment, ensuring stable premiums until a claim is made
- Super Star Bonus: Provides a guaranteed 100% cumulative bonus every year, regardless of claims, with no cap on accumulation
- Unlimited Sum Insured: Offers complete financial security by eliminating caps on the sum insured, ensuring unrestricted access to healthcare when needed
- Limitless Care: An add-on feature that ensures infinite financial protection for a one-time claim during the policy's lifetime
- Premium Waiver: Waives premiums for the subsequent year if the proposer faces listed critical illnesses or accidental death
- E-International Medical Opinion: Facilitates second medical opinions from an international panel once per policy year, enhancing global access to expert advice
The plan also includes discounts for addition of family members of the policy holder and rewards for proactive health management through wellness benefits offered by Star Health.
Acknowledging millennials as a key target demographic, the SUPER STAR product caters to young families and individuals looking for policies that address their individual requirements and offer ultimate level of personalisation.
The launch reaffirms Star Health's leadership in the health insurance industry, driven by its innovative product design, robust underwriting methodology, strong claims settlement track record, and customer centricity. The SUPER STAR plan is poised to redefine health insurance accessibility and affordability across India.
Star Health has settled over 1.1 crore claims, amounting to INR 53,000 crore, solidifying its leadership in claims settlement and customer trust.
About Star Health and Allied Insurance:
Star Health Insurance (BSE: 543412) (NSE: STARHEALTH) is India's leading standalone health insurer, operating since 2006. The Company offers Health, Personal Accident and Travel Insurance, with specialized products for cancer, diabetes, cardiac illnesses, senior citizens, women and children. Star Health has a strong distribution network, including 902 offices, 30,000+ healthcare providers, 742,000 agents, and robust bancassurance partnerships. The Company is also the first in India to settle over 1 crore claims. In FY24, Star Health reported a gross written premium of Rs 15,254 Cr and a net worth of Rs 6,339 Cr. For more information visit http://www.starhealth.in
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